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June 25, 2024

Nigeria go need up to N7 trillion yearly to adequately fund social security system – Experts

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As part of di solution to end Nigeria poverty rate, di countri don dey request for about N5 to N7 trillion annually to fund and manage di social security system of di countri.

Experts don come out tok say Nigeria Gross Domestic Product (GDP) is estimated to bi $440 billion and Nigeria bin di largest cuntri with di largest economy for Africa, but yet poverty don eat deep into hin economical system.

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According to one report on ‘Nigeria Poverty Trap, Di Institute for Governance and Economic Transformation (IGET), tok on how to provide better security system and identify poorly designed social protection measure,

IGET Founder and President, Kingsley Moghalu and one of hin fellow Researcher from IGET, Damian Ude, inside one report tok on high rate of poverty of di countri

According to wetin dey trend, dem tok say Nigerian no go fit end extreme poverty for 35 million people by 2025, or for 100 million Nigerians within di next 10 years, according to National Development Plan and other policy pronouncement by di government.

To eradicate poverty dem tok say FG, need to increase investment in healthcare and education sector and must create enable environment wen go encourage di creation of jobs for di pipol.

Kinsley tok say Nigeria fit take some sense from Brazil and China, as case study on how to successfully eradicate and reduce poverty,

Make Nigeria try to carefully adopt those idea from those nations strategy and try use am for dia own local circumstances.

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